Dubai, Jan 05: Dubai duty free announced record sales of USD 380 million for 2003, a 24 percent increase over the previous year. The airport showcase expects the results will push its global airport retail ranking above its current fifth position, according to a company statement received today.
For December, when Dubai duty free celebrated 20 years of operation, sales hit USD 40 million - a 38 per cent increase over the same month in 2002.
"Throughout the year, Dubai duty free has shown considerable sales growth and has consistently set new retail milestones," said Sheikh Ahmed bin Saeed al-Maktoum, president of the Department of Civil Aviation, as more and more passengers pour into the regional tourism and trade hub.
Colm McLoughlin, Dubai duty free managing director said: "Our turnover for the first year was USD 20 million and its is incredible to think that in the month of December alone, our sales figures are more than double that figure."
December sales were boosted significantly by a 20th anniversary offer of 20 percent discount on December 20. Sales soared that day to USD 1.9 million, easily beating the previous daily record of USD 1.6 million set on October 24.
Despite the Gulf's dry reputation liquor holds pole position in the annual sales statistics, followed by electronics, perfumes and gold.
The statement did not detail profitability.
Dubai currently boasts five million visitors a year for a population of 1.1 million, and is targeting 10 million by 2007 and 40 million by 2015.
Bureau Report